-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001029869-98-000211.txt : 19980218
<SEC-HEADER>0001029869-98-000211.hdr.sgml : 19980218
ACCESSION NUMBER:		0001029869-98-000211
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19980213
SROS:			NONE

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW GERMANY FUND INC
		CENTRAL INDEX KEY:			0000858706
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133555471
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-49307
		FILM NUMBER:		98539055

	BUSINESS ADDRESS:	
		STREET 1:		31 WEST 52ND ST
		STREET 2:		C/O DEUTSCHE BANK CAPITAL CORP
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2124747000

	MAIL ADDRESS:	
		STREET 1:		31 WEST 52ND STREET
		STREET 2:		C/O DEUTSCHE BANK CAPITAL CORP
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LENOX FUND INC
		DATE OF NAME CHANGE:	19900115

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRESIDENT & FELLOWS OF HARVARD COLLEGE
		CENTRAL INDEX KEY:			0000315016
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042103580
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O HARVARD MANAGEMENT COMPANY INC
		STREET 2:		600 ATLANTIC AVENUE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6175234400
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<DESCRIPTION>SCHEDULE 13G/A
<TEXT>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                 SCHEDULE 13G-A
                                 (Rule 13d-102)

             Information Statement Pursuant to Rules 13d-1 and 13d-2
                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                           The New Germany Fund, Inc.
         ---------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
        ----------------------------------------------------------------
                         (Title of Class of Securities)


                                    644465106
                          -----------------------------
                                 (CUSIP Number)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



                                Page 1 of 4 Pages
<PAGE>

- -------------------------                           ---------------------------
|CUSIP No. 644465106    |           13G            |   Page  2  of   4  Pages |
|          ---------    |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  President and Fellows of Harvard College                           |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [ ]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  1,922,054 shares                                 |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  --                                               |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  1,922,054 shares                                 |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  --                                               |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  1,922,054 shares                                                   |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  5.8%                                                               |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  EP                                                                 |
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                                Page 2 of 4 Pages

<PAGE>



                                  SCHEDULE 13G
                                  ------------


Item 1(a)        Name of Issuer:
                           The New Germany Fund, Inc.

         1(b)    Address of Issuer's Principal Executive Offices:
                           31 West 52nd Street
                           c/o Deutsche Bank Capital Corp.
                           New York, New York  l0019

Item 2(a)        Name of Person Filing:
                           President and Fellows of Harvard College

         2(b)    Address of Principal Business Office or, if none, Residence:
                           c/o Harvard Management Company, Inc.
                               600 Atlantic Avenue
                               Boston, MA  02210

         2(c)    Citizenship:
                           Massachusetts

         2(d)    Title of Class of Securities:
                           Common Stock

         2(e)    CUSIP Number:
                           644465106

Item 3           If this statement is filed pursuant to Rules 13d-1(b), or 
                 13d-2(b):
                           The reporting person is an Employee Benefit Plan,
                           Pension Fund which is subject to the provisions of
                           the Employee Retirement Income Security Act of 1974
                           or Endowment Fund.

Item 4           Ownership:

         4(a)    Amount beneficially owned:
                           1,922,054 shares

         4(b)    Percent of Class:
                           5.8%

         4(c)    Number of shares as to which such person has:

                 (i)   sole power to vote or to direct the vote:
                           1,922,054 shares



                                Page 3 of 4 Pages

<PAGE>


                 (ii)  shared power to vote or to direct the vote:

                                    ---------

                 (iii) sole power to dispose or to direct the disposition of: 
                                    1,922,054 shares

                 (iv)  shared power to dispose or to direct the disposition of:

                                    --------

Item 5           Ownership of Five Percent or Less of a Class:
                           Not Applicable.

Item 6           Ownership of More than Five Percent on Behalf of Another 
                 Person:
                           Not Applicable.

Item 7           Identification and Classification of the Subsidiary which 
                 Acquired the Security Being Reported on by the Parent Holding 
                 Company:
                           Not Applicable.

Item 8           Identification and Classification of Members of the Group:
                           Not Applicable.

Item 9           Notice of Dissolution of Group:
                           Not Applicable.

Item 10          Certification:

                 By signing below the undersigned certifies that, to the best of
                 its knowledge and belief, the securities referred to above were
                 acquired in the ordinary course of business and were not
                 acquired for the purpose of and do not have the effect of
                 changing or influencing the control of the issuer of such
                 securities and were not acquired in connection with or as a
                 participant in any transaction having such purpose or effect.


After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

                                       PRESIDENT AND FELLOWS OF HARVARD COLLEGE


                                       By:   /s/ Verne O. Sedlacek
                                          ------------------------------------
                                          Name:  Verne O. Sedlacek
                                          Title: Authorized Signatory


February 12, 1998

                                Page 4 of 4 Pages
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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